Re breaches 65-mark vs USD; down 104 paise in early trade

Aug 27, 2013

Tags:

dollar
rupee

Mumbai: Continuing Monday's slide, the rupee on Tuesday again breached 65-mark against dollar falling sharply by 104 paise to trade at 65.34 on strong month-end dollar demand from importers and a weak opening in the domestic equity market.
At the Interbank Foreign Exchange (Forex) market, the local currency opened sharply lower at 65 a dollar from its previous close of 64.30 and breached 65 level to trade at 65.34, not far from its all-time low of 65.56 reached last week.
Forex dealers said besides heavy month-end demand for the US currency from importers and persistent capital outflows, dollar's strength against other currencies overseas weighed on the domestic currency.
The rupee had recorded a steep fall of 110 paise to close at 64.30 against the dollar in the previous session.
Meanwhile, the BSE Sensex dropped 221.29 points, or 1.19 per cent, to 18,336.84 in early trade today.

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